Bitcoin (BTC) at $130,000 isn’t the goal—think much higher, closer to $155,000 or even $180,000 to $200,000, especially if inflation spirals out of control. The timing is the only thing that needs adjustment.

Bitcoin is not about to grow; it has been growing steadily over the long term, and that’s undeniable. We all agree that Bitcoin is on an upward trajectory. In 2025, targets like $100,000 and $130,000 will likely be the first milestones as bullish momentum picks up, probably around or after March 2025. The mistake would be to expect these levels to be reached in October, November, or even December 2024.

Bitcoin is still on track to test the 200-day moving average as support, and a "crash wick" could trigger the major bull market.

Looking ahead to the next bull market, we expect a blow-off top, not a long-term double top like in 2021. Think of something more similar to December 2017. According to the law of alternation from the Elliott Wave principle and Bitcoin’s historical patterns, this could make the dynamics of the next bull market especially interesting.

Here are two potential scenarios:

1) A blow-off top early in 2025, with Bitcoin reaching its peak within 5-6 months, leading to a bear market around April-June 2025. This scenario is possible, but not very likely.

2) A blow-off top late in 2025. This is the more likely outcome since Bitcoin usually peaks late in the bull market year. This would allow for many months of rising prices. Picture Bitcoin hitting a new all-time high in late Q1 2025, followed by a small correction, months of consolidation, and a final bull run. This final push could lead Bitcoin to a conservative estimate of $155,000 or as high as $180,000-$208,000, especially in the case of inflation or geopolitical crises.

After the correction, we expect continued growth. Right now, Bitcoin is forming lower highs, and we're set to experience a lower low next. Once Bitcoin dips below the 200-day moving average, we might see the long-term correction bottom, followed by a strong recovery.

Patience is key!

Thanks for your continued support and encouragement. I appreciate your attention, comments, and kindness.

See you on the next chart.

—Alan Santana